SPACInsider Logo
Tenzing Acquisition Corporation Amends IPO Terms
by Kristi Marvin on 2018-08-16 at 6:25pm

Tenzing Trust Value now $10.20 per share at IPO or 102% in Trust

Tenzing Acquisition Corp., an India-focused SPAC, filed an amended prospectus tonight with a notable change to the terms.  Specifically, the amount in trust is now $10.20 per share or 102%.  All other terms remain the same and you can find their summary here or below.

Tenzing is also rumored to be pricing tonight for trading tomorrow, but as of yet, we do not have confirmation. We have spoken to a few investors that have indicated as such, but without a CERT filed yet, we can’t 100% confirm.

Stay tuned to see if this one prices.

Summary of terms located below:

  • Focus:  India (EV between $150 million and $500 million)
  • $10.00 unit comprised of one ordinary Share + one warrant to purchase 1 Share
  • Warrant call for redemption threshold: equals or exceeds $21.00 (cash or cashless exercise)
  • 102% held in trust ($10.20 per share)
  • 18 months to complete an acquisition 
  • Limitation on redemption rights: 15%
  • Underwriter fees: 2.5% + 3.5% deferred fee.  Maxim Group is sole book-runner.

 

Recent Posts
by Marlena Haddad on 2022-12-01 at 10:02am

InterPrivate II Acquisition Corp. (NYSE:IPVA) disclosed this morning that it has restructured its bonus share agreement in connection to its proposed merger with carsharing marketplace Getaround. The parties previously agreed to reserve and set aside the bonus shares, consisting of 9,333,333 shares, to be allocated to the non-redeeming public stockholders, the designees of EarlyBirdCapital and the...

by Nicholas Alan Clayton on 2022-12-01 at 9:31am

Iris Acquisition Corp. (NASDAQ:IRAA) has entered into a definitive agreement to combine with biotech firm Liminatus at an enterprise value of $334 million. La Palma, California-based Liminatus is a clinical-stage drug developer working on a range of cancer treatments utilizing both preventative vaccines and CAR-T therapies. The combined company is expected to trade on the...

by Marlena Haddad on 2022-12-01 at 9:22am

Lakeshore Acquisition Corp. I (NASDAQ:LAAA) announced this morning that it has entered into a non-redemption agreement and amended its purchaser support agreement with initial shareholders in connection to its proposed merger with medical device company ProSomnus. The SPAC entered into non-redemption agreements with certain institutional investors for an aggregate of 200,339 shares of the purchaser. These investors...

by Nicholas Alan Clayton on 2022-11-30 at 6:01pm

The companies and sponsors of six SPAC deals are set to see their lock-ups expire before the end of the year. This is a relatively small monthly total as the wave of deals from 2020 and 2021 are still hitting this milestone. The list nonetheless includes some major names starting with Forafric (NASDAQ:AFRI), which is...

by Marlena Haddad on 2022-11-30 at 5:29pm

Pacifico Acquisition Corp. (NASDAQ:PAFO) disclosed this afternoon that its shareholders have approved its business combination with sustainable shipping company Caravelle during a special meeting held earlier today. At today’s special meeting, 6,194,813 shares voted by proxy or in person, representing 82.65% of the total outstanding shares. The business combination was overwhelmingly approved as it received a...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved